State of New Jersey Common Pension Fund D Has $190.29 Million Position in Exxon Mobil Co. (NYSE:XOM)

State of New Jersey Common Pension Fund D reduced its stake in Exxon Mobil Co. (NYSE:XOM) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,652,936 shares of the oil and gas company’s stock after selling 638,848 shares during the period. Exxon Mobil accounts for approximately 0.8% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 16th biggest position. State of New Jersey Common Pension Fund D’s holdings in Exxon Mobil were worth $190,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Bahl & Gaynor Inc. boosted its position in shares of Exxon Mobil by 9.4% in the second quarter. Bahl & Gaynor Inc. now owns 914,534 shares of the oil and gas company’s stock valued at $105,281,000 after acquiring an additional 78,558 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Exxon Mobil by 53.1% in the second quarter. Hazlett Burt & Watson Inc. now owns 32,489 shares of the oil and gas company’s stock valued at $3,740,000 after acquiring an additional 11,269 shares during the period. Capital Management Associates NY bought a new stake in shares of Exxon Mobil in the second quarter valued at about $1,284,000. Wellington Shields & Co. LLC boosted its position in shares of Exxon Mobil by 18.7% in the second quarter. Wellington Shields & Co. LLC now owns 62,998 shares of the oil and gas company’s stock valued at $7,252,000 after acquiring an additional 9,915 shares during the period. Finally, HHM Wealth Advisors LLC boosted its position in shares of Exxon Mobil by 99.4% in the second quarter. HHM Wealth Advisors LLC now owns 9,200 shares of the oil and gas company’s stock valued at $1,059,000 after acquiring an additional 4,586 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XOM. Wolfe Research began coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 target price on shares of Exxon Mobil in a research report on Tuesday, July 9th. Truist Financial reduced their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Barclays reduced their target price on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Sanford C. Bernstein cut their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.29.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $111.15 on Friday. The business has a 50 day moving average of $115.66 and a 200-day moving average of $114.98. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The company has a market capitalization of $438.27 billion, a P/E ratio of 13.62, a P/E/G ratio of 4.38 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Exxon Mobil Co. will post 8.36 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is currently 46.57%.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.